Stakeholder EngagementLaunchedPorsche NFTs Revive And Sales Are Up
Milestone Date: February 13, 2023
Porsche launched its first NFT collection in January and received poor feedback from the Web3 community. After a severe lack of sales and backlash, Porsche paused the mint. Since then, the company has announced how it plans to benefit Porsche NFT holders and add more utility in an attempt to recover the project.
Porsche limited the number of available NFTs from 7,500 to 2,363, announced future airdrops, and shared more design customization options totaling more than 150,000 variations in its new customization roadmap.
Following this news, the Porsche NFTs are now trading around 2.5 ETH on the secondary market, a 280% higher floor price than the mint price.
This is a good example of how a brand listened to the community, was transparent about how it would respond to the criticism, and quickly pivoted to recover the NFT project. Such timely candor and communications are critical to the success of any NFT-based customer loyalty and engagement program.
By Elizabeth Morrison
Published:February 13, 2023